Oncotelic Therapeutics (OTLC) awards 17,796 RSUs tied to uplisting
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Oncotelic Therapeutics, Inc. approved equity incentives for directors, officers, employees and advisors by granting an aggregate 17,796 restricted stock units (RSUs) under Restricted Stock Unit Award Agreements. Each RSU represents a contingent right to receive one share of Series A Convertible Preferred Stock, which is convertible into 1,000 shares of common stock.
The RSUs vest only if the company’s common stock is uplisted to a national stock exchange on or before June 30, 2027, or a later date if extended by the board, and the recipient continues service for six months after the uplisting. Otherwise, the RSUs automatically expire and are forfeited. Grants include 2,000 RSUs to CEO Vuong Trieu and 1,500 RSUs each to several senior executives. The awards are granted at no cost to recipients and rely on the private-offering exemption in Section 4(a)(2) of the Securities Act.
Positive
- None.
Negative
- None.
8-K Event Classification
3 items: 3.02, 5.02, 9.01
3 items
Item 3.02
Unregistered Sales of Equity Securities
Securities
The company sold equity securities in a private placement or other unregistered transaction.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
RSUs granted: 17,796 RSUs
CEO RSUs grant: 2,000 RSUs
Senior officer RSUs grant: 1,500 RSUs
+5 more
8 metrics
RSUs granted
17,796 RSUs
Aggregate restricted stock units awarded to directors, officers, employees and advisors
CEO RSUs grant
2,000 RSUs
Award to Vuong Trieu, Chairman of the Board and Chief Executive Officer
Senior officer RSUs grant
1,500 RSUs
Awards to Anthony E. Maida III, Saran Saund and Amit Shah
Director RSUs grant
250 RSUs
Awards to director Steven W. King and executive Seymour Fein
Conversion ratio
1,000 shares of Common Stock per Preferred Stock share
Each Series A Convertible Preferred Stock share is convertible into common stock
Vesting deadline
June 30, 2027
Latest uplisting date for RSUs to vest, subject to possible board extension
Post-uplisting service period
six months
Continuous service required after uplisting for RSUs to vest
Par value
$0.01
Par value of both Series A Convertible Preferred Stock and common stock
Key Terms
Restricted Stock Units, Series A Convertible Preferred Stock, Section 4(a)(2) of the Securities Act, uplisted, +1 more
5 terms
Restricted Stock Units financial
"approved the granting of certain restricted stock units (RSUs)"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Series A Convertible Preferred Stock financial
"one (1) share of the Company’s Series A Convertible Preferred Stock"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
Section 4(a)(2) of the Securities Act regulatory
"in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act"
A legal exemption that allows a company to sell securities directly to a limited group of buyers without registering the offering with the Securities and Exchange Commission. Think of it like a private sale among known parties rather than a public auction: it can speed fundraising and reduce disclosure requirements, but it also means less public information, lower liquidity and resale restrictions—factors investors should consider when weighing risk and exit options.
uplisted financial
"if the Company’s common stock is uplisted onto a national stock exchange"
Inline XBRL technical
"Cover Page Interactive Data File (embedded within the Inline XBRL document)"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
FAQ
What RSU grants did Oncotelic Therapeutics (OTLC) approve on July 10, 2026?
Oncotelic Therapeutics approved 17,796 RSUs for directors, officers, employees and advisors. Each RSU provides one share of Series A Convertible Preferred Stock, which can convert into 1,000 shares of common stock, subject to specified vesting conditions.
What are the vesting conditions for the new OTLC RSU awards?
The RSUs vest only if OTLC’s common stock is uplisted to a national stock exchange by June 30, 2027 (or a later board-approved date) and the recipient remains in continuous service for six months after that uplisting; otherwise, the RSUs are forfeited.
How are the OTLC RSUs settled and what stock do recipients receive?
Upon vesting, each OTLC RSU is settled by delivering one share of Series A Convertible Preferred Stock. Each preferred share is, in turn, convertible into 1,000 shares of common stock, linking award value to future equity performance.
Which key executives at Oncotelic Therapeutics (OTLC) received RSU grants and in what amounts?
CEO Vuong Trieu received 2,000 RSUs. Executives Anthony E. Maida III, Saran Saund and Amit Shah each received 1,500 RSUs, while Steven W. King and Seymour Fein each received 250 RSUs, reflecting grants across the senior leadership team.
Under what securities law exemption were the OTLC RSUs issued?
The RSUs were issued in reliance on Section 4(a)(2) of the Securities Act, which provides an exemption from registration for certain private offerings. The company states the awards were granted at no cost to recipients under this exemption.